Common use of Modification in the Concession Period Clause in Contracts

Modification in the Concession Period. 24.2.1 Subject to the provisions of this Clause, in the event actual NKTM shall have fallen short of the Target Traffic, then for every 2% (two per cent) shortfall or part thereof as compared to the Target Traffic, the Concession Period shall be increased by 6(six) months or part thereof; provided that such increase in Concession Period shall not in any case exceed 5 (five) years. 24.2.2 Subject to the provisions of Sub-clause 24.1.1 above, in the event actual NKTM shall have exceeded the Target Traffic, then for every 2% (two per cent) excess or part thereof as compared to the Target Traffic, the Concession Period shall be reduced by 6(six) months or part thereof; provided that such reduction in Concession Period shall not in any case exceed 5 (five) years.